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Earnings

UPDATED -- Truckload carrier Swift Transportation Co. saw its net income decline in the first quarter of the year while profit for the time definite surface transportation and logistics provider Forward Air Corp. more than doubled as refrigerated hauler Marten Transport Ltd. reported a boost in two ways.

Truck and engine manufacturer Navistar International Corp. on Tuesday surprised many analysts with its announcement that it narrowed its losses more than expected during its most recent fiscal quarter.

Profit for engine maker Cummins fell sharply in the final quarter of last year due to lower global demand, leading it to scale down plans for its new light-duty engines in North America, while Daimler AG saw record profits for 2015,

It's looking like a good Christmas for Navistar and FedEx. The truck and engine maker managed to cut back on its losses in its most recent fiscal quarter and likely no longer will have an SEC investigation hanging over its head. Meanwhile, FedEx saw better earnings due to record holiday business.

A major OEM announced it is cutting its workforce even though it’s still well in the black as it released third quarter earnings this week while a truck and engine maker reported continued higher numbers.

One truck maker has reported its third quarter profit doubled and is considering the sale of its used truck business while one of the nation’s largest trucking fleets has reported new records for the period in several areas.

Daimler AG, Dana and Rush Enterprises all saw weaker third-quarter financials compared to a year ago, thanks in part to the recession in Brazil and the downturn in the North American oil and gas industry.

Navistar International has reported a second-quarter 2015 net loss of $64 million, which compares favorably to the net loss of $297 million that it incurred for the same period a year ago, and showed a 38% increase in sales of Class 6-8 trucks and buses.

According to the Florida-based company this was the result of an “intangible asset impairment charge” of just over $2 million, with an with an after tax impact to net income of $1.265 million, relating to its November 2013 purchase of Pipeline Transportation.

Freight transportation and logistics provider, XPO Logistics Inc., announced it had narrowed its first quarter loss while it has reached an agreement to purchase Bridge Terminal Transport Services Inc.